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1441. What is Turkey up to?

This summer, for the first time in many years, the omens concerning Greek-Turkish relations are particularly gloomy. There are many objective reasons why Turkey causing a heated incident is not the most likely scenario;...

1442. Bank of Cyprus Drives Sustainable Digital Innovation in Financial Services with Kyndryl

Kyndryl, the world's largest IT infrastructure services provider and Bank of Cyprus, the leading banking and financial services group in Cyprus, announced an agreement to expand their collaboration with a new five-year managed IT services program that advances the Bank’s ESG commitments through 2030, by supporting the Bank’s levels of service, giving access and visibility to its products to all stakeholders....

1443. RCB finalizes sale of its loan portfolio to Hellenic

RCB Bank Ltd announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank Public Company Ltd has been successfully completed....

1444. Κyriacos Koushos takes over as Labour Minister

Κyriacos Koushos will take over as Minister of Labour and Social Insurance, following the death of Zeta Emilianidou who died on June 6 in hospital after suffering a brain aneurysm. ...

1445. The end of an era as Revlon files for bankruptcy

The US cosmetics group Revlon has filed for bankruptcy protection after battling supply chain problems and failing to compete with celebrity-backed and social media-savvy upstarts....

1446. Central banks across Europe jack up interest rates to fight inflation

Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits....

1447. US Fed raises interest rates by .75%, largest hike in 30 years

The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices....

1448. The dilemmas of war and pandemic

Cyprus is a small country with a large export sector of services, which makes it vulnerable to its external environment. An external shock is felt faster and more intensely. ...

1449. The 15 branches of Bank of Cyprus that are closing

The restructuring plan will go ahead by July 4 - There will be 60 left while it will also reduce ATMs...

1450. EY announces 4 new Partners in Cyprus and welcomes new Head of Consulting

EY Cyprus Country Managing Partner, Ronald Attard, has welcomed the announcement of 4 new partners to the Cyprus practice....

1451. Why are we all working so hard?

The idea that technology can liberate us from the drudgery of work is a powerful one. It has also been a powerful disappointment, at least so far....

1452. An increasing number of bounced checks were recorded by the CBC

The number and amount of bounced cheques recorded in the Central Bank of Cyprus' (CBC) preliminary Central Information Register (CIR), showed an upward trend in the first five months of 2022, according to data released Tuesday....

1453. Cypriot woman who fled to UK after war in ‘74 opens her door to Ukrainian refugees

A woman whose family fled to Britain to escape a war has closed her seaside hotel to tourists—so she can give Ukrainian refugees a place to stay....

1454. Cyprus looks to become global crypto hub with new bill

Cyprus is vetting a cryptocurrency “umbrella” bill in a bid to establish the Mediterranean nation as a premier destination for digital asset innovators and companies....

1455. CBC: New loans drop by almost 50% in April

Cypriot banks granted 50% fewer loans this month in comparison to last month due to a sizeable reduction in new housing loans....

1456. Blood Donation Day

In support to the Nicosia General Hospital blood bank and as part of its CSR initiatives, KPMG in Cyprus organised a blood donation day at its premises at Nicosia, on 31 May. ...

1457. Bank of Cyprus used car auction on the 7th of June

The Bank of Cyprus is once again holding an auction for used cars. See the list below with prices and click on the links for additional information....

1458. Fee free cash withdrawals at supermarkets and bakeries

Following an international trend, consumers in Cyprus will now be able to withdraw cash without a fee at participating supermarkets, bakeries, butchers and gas stations. The maximum withdrawal limit is set at 100 euros....

1459. Mask-wearing man robs bank in Larnaca

A man wearing a COVID mask is believed to have robbed a bank in Larnaca district on Wednesday, the first official day when face coverings are no longer required in the Repubic...

1460. Efforts continue for the release of the Cypriot captain on one of the seized ships

Cyprus' Ministry of Foreign Affairs is continuing its diplomatic efforts for the release of a Cypriot captain, a member of the crew of one of two Greek oil tankers recently seized by Iran's Revolutionary Guards in the Gulf. ...

1461. Europe agrees to ban 90% of Russian oil

European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support....

1462. CBC: Cryptocurrencies are a potential risk to the economy

Losing 26% of its value in the last month, Bitcoin and other cryptocurrencies are in danger of dragging the "real economy" with their unpredictable fluctuations....

1463. Iran seizes two Greek tankers as tensions rise

Iranian forces seized two Greek tankers in the Gulf on Friday, shortly after Tehran warned it would take "punitive action" against Athens over the confiscation of Iranian oil by the United States from a tanker held off the Greek coast...

1464. Turkey 'not bluffing' over Greek islands

Greece must withdraw its military from the Aegean islands or Turkey “will take matters further,” Foreign Minister Mevlut Cavusoglu warned on Thursday, adding that Ankara is prepared to challenge their sovereignty....

1465. Orban gets his way as EU bans Russian oil

The European Union on Thursday gave its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin's Feb. 24 invasion of Ukraine...

1466. Lebanese banks in Cyprus to shut down amid the country's financial crisis

Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator....

1467. EU official calls on Cyprus to implement recovery plan or lose funding

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....

1468. Bank of Cyprus posts net profit of €21 million in Q1

Bank of Cyprus group announced on Thursday a net profit of €21 million for the first quarter of 2022, compared to net profit of €8 million in the first quarter of 2021....

1469. Cyprus to investigate billionaire’s missing millions

A lawyer for a Jewish billionaire says he is confident Cypriot authorities will investigate a complaint into whether a former Israeli army officer embezzled his client’s money on the island...

1470. Bank of Cyprus to reduce its employees by 500 in 2022